Is the large variety of Altcoins hurting the market? - page 6.

bartolo

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.

A few years ago there were less than 50 coins and these coins were less valuable than they are now. If there are so many coins now it's because the interest in crypto has grown, it's normal. The quantity of coins is not a problem, scam coins are.

labilaab

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A number of scam alts if being summed is a big impact to the crypto world already since they can affect the viewpoint of newbies in crypto. If many investors got discourage investing just because of them then there will be slow adoption in cryptocurrency and blockchain usage.

mickey_miner

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?

I think it does not matter how many altcoins are on the market, if they are not in demand, the price will not rise.

Distinctin

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Quote from: Emilyp on February 13, 2019, 06:28:40 PM

It may be hurting crypto since the crypto capitalisation is spread among the thousand coins in the market. if they were to be few, more attention would be given to the market.

We are a growing market and we can expect huge competition among crypto coins. In this way, many were seems to be losing its capability as some will win the race. They are not hurting the market anyway, but only those scammers are ruining the image of crypto as well as its prices.
Scamming is rampant for now and we can only stop this if we could apprehend them early before they'll find victims.

Emilyp

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It may be hurting crypto since the crypto capitalisation is spread among the thousand coins in the market. if they were to be few, more attention would be given to the market.

Xising

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Quote from: Queen_Amber on February 13, 2019, 01:04:00 AM

Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?

Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..

NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!

I would say before it maybe is a bad thing, but now, I am not so sure anymore. There are so many altcoins in the market that getting a niche is hard enough to gain, especially with how everybody is acting up and strategizing in what they do with their coins. For newer coins these days, it's even harder to actually prosper because of the reality that the established ones have already gotten the heart and interest of most coins and building one's trust in a coin is quite difficult to get these days. So, I don't think adding more altcoins would not do much good. It may only have an effect until such time it shows a light or chance to make it big.

Rockkey

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A large variety of coins is not good and it is not bad, in my opinion this is a necessary and only condition under which the principle of reasonable competition between projects will be observed which will lead to the fact that the strongest will survive. Over time, still most of all the many of these projects will die.

khufuking

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The variety is needed especially if the coin/token in question is useful and contributing to Crypto world, I don't worry about all the other shitty coins/tokens because they are like a dot in a sea look at their volume they are nothing and I don't think they are stealing abut real % from big coins. We can actually say that the number of paused and extended ICO is the real thing hurting the market because they are representing locked money that is not moving and not creating any contribution to the Crypto space.

Marvell1

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?

The only thing I understand for sure, that if we have only 50 altcoins on the market there won't be so high volatility at each of them due to large market caps. The higher capitalization asset has the lower momentum of the price is.

high110

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?

Of course. Due to the fact that there are a lot of altcoins on the market, all the means of the cryptocurrency market are distributed among all the altcoins. This negatively affects the capitalization of many good projects. Also, some teams are scammers. Such projects erode the means of the market even more.

adzino

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It doesn't actually affect/matter much in the long run. Even though if there are thousands of altcoin in the market, people will only invest on the coins that are well know and has credibility. They won't be risking themselves by investing on new altcoins that has no potential. Those other altcoins will eventually die and new ones will popup and will just get the attention of extremely small crowd of people that will have negligible affect on the market. Just look at the trade volumes and you will understand what I am saying.

kindbtc

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If we see from the broader perspective i think in the long run it is positive for the overall market as more coins are coming with more marketing campaigns and more and more people are being introduced to crypto this is helping adoption and also helping the overall growth of the crypto market.

St4yInTh3D4rk

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Quote from: Sebas.tian on February 13, 2019, 11:39:14 AM

For now, having many alts in the market effects it negatively since money is not focused in a single point. To be exact, bitcoin's dominance was lesser now compared to last 2 years ago. Money that should've been into bitcoin is flowing to the useless once that are being used for pump and dump schemes.

The dominance level is still same as before but only the total market cap of the crypto currencies were increased.Most of the coins including bitcoin were used for bump and dump to make profits,it is rarely used as payment system so we no need to blame on the crypto currencies,we son't have the people yet to accept cryptos as currency.

bigcash2011

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Yeah you are right as the volume gets divided it does have an impact on the value of the major coins but at the same time each project or coin is backed by its own supporters, fans and investors which would not have invested in otger projects so i think the net effect is very minor one.

IncludeBeer

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Quote from: Queen_Amber on February 13, 2019, 01:04:00 AM

Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?

Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..

NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!

NOW, imagine only 10 companies in the world, and they supplied everything needed to the people, and all 10 of them were super valuable and held all the $$! Roll Eyes

No, variety in crypto space is absolutely a boon. Yes, a large portion of them are shit. But that's ok. The point of permissionless and open source code is to allow people to do these things. Maturity in crypto will come. Until it's there, it's valuable to see different coins doing different things. The fact that not all of them are going to make investors rich is absolutely, completely, 100% besides the point.

Sebas.tian

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For now, having many alts in the market effects it negatively since money is not focused in a single point. To be exact, bitcoin's dominance was lesser now compared to last 2 years ago. Money that should've been into bitcoin is flowing to the useless once that are being used for pump and dump schemes.

qiwoman2

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I would say there are pros and cons to so many altcoins. The main CON is that it dilutes a very small financial market, hence some very good projects have less capitalization than what they are truly worth. Also, another CON is that many small-cap crappy coins get easily pumped and dumped by pump groups, thus leaving many noobs and unsuspecting speculators with being left with hodling very useless bags. The RPOS are that micro investors can come and invest in many different projects that they like at a fraction of the cost of traditional investing and on the blockchain everything is so much easier to do. Also a PRO, in this case, is that anyone with a true vision can come and open a project, tokenize it and make their dream a reality. If the project is good, it can bring employment to many people remotely which means more people can get jobs.

inanilujimi

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the number of altcoins makes it easy for people to choose the altcoin they want to invest, but the problem now is that almost all of the altcoins currently available cannot be used for real-world interests.

Yurkov

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?

I agree that a greater concentration of capital on just 50 coins would make their value much higher than if the capital was divided into 1000 coins. However, the market capitalization of cryptocurrencies is still very low compared to other capital markets, so we still have a chance of huge increases of price and capitalization.

Bairbe

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It depends on how much the funds would be distributed, but I am absolutely sure that this affects the market!

Topic: Is the large variety of Altcoins hurting the market? - page 6. (Read 16976 times)